From ranking in the top 50 project on Coingecko.com in April this year, Hive presently ranks 137th on the same website. In all sincerity, it could have been worse had there not been a powerful and dedicated community backing Hive.
The cryptoshere is presently more or less like a madhouse, where dozens of DeFi-related projects spring up each day and investors are more interested in the short-term profits than in building and sticking with solid projects. And thanks to exchanges like Binance that continues to list every dick-and-harry DeFi projects with little or no due diligence to protect investors.
The implication is that we now have more DeFi projects sweeping the top spots on the ranking of Coinmarketcap.com than one would have ever imagined. And since the the crypto market is driven by speculation and people tend to move to wherever the hefty money goes, solid projects are relegated for quick-DeFi money. In this regard, Hive and several other projects have become victims.
The big question becomes whether Hive can still return to the top 100 spot. The answer to that question depends on a number of factors. First, the DeFi craze and dust will have to settle first before we can see that happening. This is because as long as DeFi projects keep doing well in the market, most investors will never look at potentials but where they can reap quick profit. More of the scams like SUSHI and CRV might pave the way for Hive's rising.
That said, things would need to be done more differently too on the Hive blockchain if Hive will ever get a chance of returning to the top 100. Hive might have to reduce the power down window to 4 or 2 weeks.
Now that we are in an era of staking for juicy rewards, it longer makes sense for Hive to sustain the 13 weeks power down window. An attempt at reviewing it downwards will attract investors and consequently increase the market capitalization of Hive, perhaps pushing it to the top 100 spot.
Another factor that can play a major role on the chances of Hive returning to the top 100 spot on Coinmarketcap.com is luck. Yes, you read that correctly -- luck. To a large extent, a lot depends on how lucky Hive becomes in the forthcoming altseason. Luck could bring a major news or event in favour of Hive. If this happens, the market sentiments will flip in favour of Hive and we could see it reaching unimaginable heights.
Until I come your way again, I wish you a full Hive ahead.